The primary objective for accounts payable and cash disbursements is to ensure that:

  • Disbursements are properly authorized.
  • Invoices are processed in a timely manner.
  • Vendor credit terms and operating cash are managed for maximum benefit to the Association

All valid accounts payable transactions, properly supported with the required documentation, will be recorded as accounts payable in a timely manner. Accounts payable will be processed on a daily basis. Information will be entered into the system from approved invoices with appropriate documentation attached.

Invoices for goods or services dated in the previous month and received within 5 business days after the end of the month will be entered as Accounts Payable for the previous month. All other expenses for goods and services incurred in the previous month will be accrued.

Only original invoices will be processed for payment unless duplicate copies have been verified as unpaid by researching the vendor records. No vendor statements will be processed for payment.

Approvals by managers indicate their acknowledgement of satisfactory receipt of the goods or service, agreement with the terms, agreement with the general ledger coding, and agreement to pay in full. Approvals will be documented with initials or signatures of the approving individual. Emails to approve disbursements will be accepted in some cases.

ACPE shall obtain a completed Form W-9 or equivalent substitute documentation from all vendors to whom payments are made, with the exception of members who are to be reimbursed for travel expenses only. A Form 1099 must be submitted for members who are paid stipends or other non-accountable disbursements of any kind and in any amount. Vendors subject to 1099 reporting shall be designated so on the vendor account.